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Humic Acid Market Valuation to Worth USD 1.06 Billion, Expanding at a CAGR of 6.1% by 2028 | Reports and Data

Reports And Data

Reports And Data

Growing adoption of humic acid for various industrial uses coupled with increasing scale of organic farming is anticipated to drive demand.

NEW YORK CITY, NEW YORK, UNITED STATES, November 16, 2022 /EINPresswire.com/ -- The global Humic Acid market is expected to reach USD 1.06 billion by 2028, according to a new report by Reports and Data. Growing demand of humic acid from various applications coupled with increasing adoption of organic farming globally is a key factor influencing market growth.

Agricultural centers across the globe have been experimenting on the effect of humic acid on plants. According to available literature, the ability of soil to plant root growth does not depends only on the concentration of nutrients but also on its organic matter content, depth, texture, acidity and water-retention capacity. Based on results, humates have been found to influence crop yields by improving soil texture, water retention and nutrient buffering capacity

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Major companies Nutri-Tech Solutions, Humintech GmbH, Humic Growth Solutions, Omnia Specialities, Canadian Humalite International, Grow More, AMCOl International and Jiloca International S.A. Humintech GmbH

Further key findings from the report suggest

Pharmaceutical segment is projected to be one of the fastest growing applications of the Humic Acid. It is anticipated to grow at a CAGR of 5.7% in the forecast period. Humates which are formed from peat have been used for the treatment of gastric, intestinal and hepatic diseases. Humic acid is generally used for musculoskeletal disorders, gynecological problems and skin treatment. Adoption of humic acid in organic farming is expected to play a major role in improving the health of consumers across the globe.
Europe is projected to grow significantly in the forecast period. Manufacturers of animal feed in Europe are also anticipated to adopt humic acid as an ingredient. Increasing gastrointestinal infections coupled with the growing incidence of zoonotic diseases in the region is likely to lead to an increase in adoption of humic acid. Adoption of humic acid for producing animal feed is expected to ensure an improved utilization of nutrients in animals thereby stabilizing the feces consistency of animals.

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Segments covered in the report:

Product Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

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Application Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

Agriculture
Industrial
Animal Feed
Pharmaceutical

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Key Regional Markets Covered in the Report:

North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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